Unanswered Questions

How Can I Increase My Credit Score in the Next Couple of Months? – Kristine

Because of the volume of submitted questions, I am behind in personally answering every single one. I need your help. I am publishing the question below for you to answer. Please help this person by adding your response and advice in the comments section of the original question. Click here.

“Dear Steve,

I have a credit score of about 458 and i have a lot of medical bills on there that are small and one aparment complex that i owe 1,900 and a few credit card bills someone told me its not going to increase my score by paying these off. I want to know how to increase my credit score i have student loans and a car also. I actually have the funds to pay off the car but wanted to see if its worth it or should i take the money and pay off the small debts and open a secured credit card to make consistent payments on. Please advise

How do i increase my credit score over the next several months..


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About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.


  • Hello Kristine

    Is there a specific purpose that you are trying to raise your score in the next few months? The reason I ask is because if your credit is currently 458, there is not much you are going to be able to do within a few short months to get it up into the low to mid 600’s. As far as most lenders are concerned, there isn’t much difference between 450 or 500. Now there are definitely things that you can start doing now that will improve your score over time. How much of a jump are you trying to get in a few months?
    .-= Damon Day´s last blog ..Tasc – The Association of Settlement Companies – A Closer Look =-.

  • Kristine,

    I was doing some research on the same thing. There is something called a FICO Simulator (I know equifax has one for sure) that allows you to plug in your score and play with the numbers of “how many months to pay”, “how much” and what not, and forecast what improvements your score could make.

    It’s a tricky situation. From what I’ve seen, paying things off at once won’t give your score much boost, but it might save you from interest and extra fees – which give you more money to pay other things. On the other hand, spread that money a few extra months, and you’ll incur more interest and such. So you definitely need to balance it out.

    For example, my score was forecasted to go up about 40 points in 3 months by paying at least $100 to my credit card. Now, I have only a student loan, auto loan, and one credit card, but you see what I mean.

    Just google “fico simulator” and spend some time working out the scenarios; you’ll find one that’s right for you.

    Best of Luck.

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